Autodesk (ADSK) Now Covered by Analysts at KeyCorp

KeyCorp initiated coverage on shares of Autodesk (NASDAQ:ADSK) in a report released on Wednesday morning, Benzinga’s Daily Ratings Newsletter reports. The firm issued an overweight rating and a $196.00 target price on the software company’s stock.

Several other equities analysts also recently commented on the stock. TheStreet upgraded shares of Autodesk from a d rating to a c rating in a research note on Thursday, February 28th. Argus upped their price target on shares of Autodesk to $184.00 and gave the company an average rating in a research note on Tuesday, March 5th. They noted that the move was a valuation call. Morgan Stanley downgraded shares of Autodesk from an overweight rating to an equal weight rating and decreased their price target for the company from $160.00 to $150.00 in a research note on Tuesday, January 15th. Atlantic Securities assumed coverage on shares of Autodesk in a research note on Wednesday, January 9th. They issued an overweight rating and a $180.00 price target on the stock. Finally, Wedbush reduced their price objective on shares of Autodesk from $146.00 to $131.00 and set a positive rating on the stock in a research note on Thursday, December 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $171.26.

Shares of NASDAQ:ADSK traded up $0.42 on Wednesday, hitting $170.88. The company had a trading volume of 10,653 shares, compared to its average volume of 2,012,441. Autodesk has a 1-year low of $117.72 and a 1-year high of $169.05. The company has a market cap of $37.42 billion, a P/E ratio of 1,559.36, a P/E/G ratio of 2.48 and a beta of 1.92.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, February 28th. The software company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The business had revenue of $737.30 million during the quarter, compared to analyst estimates of $707.09 million. During the same quarter last year, the company posted ($0.09) earnings per share. On average, equities research analysts expect that Autodesk will post 1.77 earnings per share for the current year.

In other news, SVP Fronzo Pascal W. Di sold 11,437 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $166.86, for a total value of $1,908,377.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew Anagnost sold 10,023 shares of the firm’s stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $154.67, for a total transaction of $1,550,257.41. The disclosure for this sale can be found here. Insiders sold 48,389 shares of company stock valued at $7,733,483 in the last three months. Company insiders own 0.14% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of Autodesk by 16.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,353,539 shares of the software company’s stock valued at $211,299,000 after purchasing an additional 188,022 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Autodesk by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 1,583,153 shares of the software company’s stock worth $247,146,000 after acquiring an additional 13,410 shares during the period. Panagora Asset Management Inc. raised its stake in Autodesk by 50.8% during the third quarter. Panagora Asset Management Inc. now owns 13,799 shares of the software company’s stock worth $2,154,000 after acquiring an additional 4,651 shares during the period. Dimensional Fund Advisors LP grew its position in Autodesk by 9.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 405,687 shares of the software company’s stock worth $63,330,000 after purchasing an additional 35,754 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Autodesk in the 3rd quarter worth about $226,000. Institutional investors and hedge funds own 95.38% of the company’s stock.

Autodesk Company Profile

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.

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Analyst Recommendations for Autodesk (NASDAQ:ADSK)

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